Will You Sell when BTC Hits $1,000?

[BittBurger]

I didn't add the option to cash out partially because i want to know how many people are bailing at $1,000.  

I know most people will cash out partially...

Its honestly the most difficult question on earth right now for me.  Its obvious as we approach $500 that this is going to be an issue on the table for all of us.

How does one look at thousands (hundreds of thousands?) of dollars earned on the most risky investment known to mankind, and not "Grab" it and run?

[1715020394]

1715020394

[Arksun]

A large part of such a decision depends on just how many Bitcoins a person has and when they bought them, this will vary greatly giving a very different perspective on the price.

As for myself,someone who got into Bitcoins far too late and own very little, I will of  course be holding and hoping it skyrockets long term.

[beetcoin]

there is definitely going to be a crash around 1,000k.. i've never seen so many people say they are going cash out (at 1k). there's even a sitewide celebration/party going on.

[s2ck]

guess 1,000$ / BTC will have a huge psychological impact.
i predict a lot people to cash out.
the far more important question is, will they get in again as they see price hitting support levels (and rising even higher than 1k)?

[Sage]

Sheesh... that is the wrong question.

The right question is, is the current price of Bitcoin, be it $1000 or $10,000 above it's true market value?

Then act accordingly.

[BittBurger]

Sheesh... that is the wrong question.

The right question is, is the current price of Bitcoin, be it $1000 or $10,000 above it's true market value?

Then act accordingly.

Well since nobody knows the answer to that question, the second question, which we can answer, is how many people will bail at $1,000 

[BittBurger]

Don't forget .........

CAPITAL GAINS !!!!!!!!!!!!!!

If a dude is holding 350 bitcoins and makes $350,000 ......

Some such dudes are going to have to give $100,000 of it to the government "just because" ....

Maybe the correct question is, how many people are applying for citizenship in Germany right now? 

[cdog]

I voted no and Im happy to see the "holds" are leading the "cashouts" at a 4-1 ratio, that bodes well IMO

[Alty]

It seems like there is a clear cycle of people buying holding and selling; once a multiple return on initial investment is made they cashout, and understandably so.

Every time the earlier adopters reach a psychological barrier and cash out a large number of coins, they do so because they see their initial investment reach a pre-determined valuation that is deemed "the number that will lead to happiness or financial freedom or good return on initial investment etc".  

But the fact that these people cash out makes it more interesting for the latecomers and everybody else still holding BTC because the bitcoins get more and more dispersed and broken down into smaller denominations amongst a now larger population, but the BTC are now more valuable and are still in demand.

So for example when the people holding 1000 bitcoins today see it hit $1000 in the future - They cash out to get their hands on $1million. Quite an achievement!

But then there are less people holding 1000 bitcoins as they are dispersed into many different wallets.

Then the people holding 100 BTC wait for the price to hit $10000/BTC so they can cash out and enjoy owning $1million.

This is what is really happening imo.

People hitting their pre determined barrier (initial investment vs risk vs future return) they decide to cash out and now the next wave of investors get involved and the cycle repeats over and over again as the price goes up.

Of course this is happening every second of the day, which is fuelling the rise in value against fiat; people reaching personal goals or limits.

That is perhaps the magic of this system and when is it going to stop? Never?

[wtfvanity]

I love these posts. Will you cash out when it reaches x? Cash out into what? I'm still cashing into BTC because I prefer that over the governments monopoly money. I keep out what I need to live, I don't have any expenses currently I need to cash out for. Only play with what you can afford to lose.

[beetcoin]

Don't forget .........

CAPITAL GAINS !!!!!!!!!!!!!!

If a dude is holding 350 bitcoins and makes $350,000 ......

Some such dudes are going to have to give $100,000 of it to the government "just because" ....

Maybe the correct question is, how many people are applying for citizenship in Germany right now? 

yeah, capital gains is a killer. i guess selling in-person, bit by bit may be an option to cover paper trails.

[dominicwin]

Right now I am selling about 20% of my coins I earn from my shop thread every 5-7 days. I did a large cash out already, so I won't be doing any big cashout any time soon again.

[kriwest]

I would prefer never to have to cash out... I'd rather have services pop up so that I can purchase things with my BTC directly.
Maaaybe (but just maybe) I'll cash out my initial investment when 1 BTC is valued at that price, just to "freeroll" the rest of the way.. but not even that's certain.

I mean... I don't see bitcoin as a "get rich quick" scheme or a ponzi that I buy into to eventually get out before the ship sinks. I see it as a potential future disruptive technology.. in which case.. why would I ever cash out?

[Phinnaeus Gage]

Don't forget .........

CAPITAL GAINS !!!!!!!!!!!!!!

If a dude is holding 350 bitcoins and makes $350,000 ......

Some such dudes are going to have to give $100,000 of it to the government "just because" ....

Maybe the correct question is, how many people are applying for citizenship in Germany right now? 

One could claim that they sold at a lost, and offer up Hitler videos as proof. And, if it goes to trial...

Judge: Court will take a 30 minute recess, for I just pissed my robe.

[Lethn]

If the price of Bitcoin ever gets that high that's when hyperinflation will have finally hit.

[proudhon]

I'll sell some when I need/want the USD I'll get in return if I can't just spend it directly.  I don't have a specific exchange rate target.

[beetcoin]

Don't forget .........

CAPITAL GAINS !!!!!!!!!!!!!!

If a dude is holding 350 bitcoins and makes $350,000 ......

Some such dudes are going to have to give $100,000 of it to the government "just because" ....

Maybe the correct question is, how many people are applying for citizenship in Germany right now? 

actually, the number is $100,00 maximum. it's assuming that you got your 350 bitcoins at or near "free." since there is no way to prove how much you paid for your bitcoins, it would make for a huge mess for IRS purposes.

[porcupine87]

guess 1,000$ / BTC will have a huge psychological impact.
i predict a lot people to cash out.

So like the 100$ mark?
http://bitcoincharts.com/charts/mtgoxUSD#igDailyzczsg2013-01-01zeg2013-04-18ztgSzm1g10zm2g25

[Rez]

I will cash 1BTC and spend it frivolously. And cling to the rest tenaciously.

[dominicwin]

If you really do make a ton of money with Bitcoin as an American, you should move for a year to the Emirates where all forms of personal income, salaries, capital gains are tax free.